Erik Kudbalyan

you will be tokenized. welcome. @RibbitCapital just published a private letter that feels like the bitcoin whitepaper — but for the token era. they’re one of the most consistent fintech funds of the last decade — early in robinhood, coinbase, revolut, stripe, and dozens of others. the thesis is brutal: tokens eat the world. not crypto-tokens. tokens as machine-readable units of value, context, identity. text → token. money → token. you → token. ribbit split it like this 👇 1. personalization tokens identity, memory, access, intent. your face, your spending, your bio data — all tokenized. @stripe, @Plaid, @IDme , @Clear — they’re the new banks. they hold your most valuable tokens. ai agents will pay to access them. 2. expertise tokens knowledge turned into capital. how to code, how to heal, how to trade — tokenized. harvey (ai lawyer), abridge (ai doctor) — they mine human feedback into expert tokens. each correction → new neuron in the global brain. 3. asset tokens dollars, stocks, property, yield. tether made $13B profit in 2024 — 100x JPMorgan per employee. stablecoins aren’t fintech — they’re machine-native money. bots already move 90%+ of onchain flow. they don’t speculate. they execute. the next era is token factories. every company becomes one. minting trust, memory, knowledge. the new flywheel isn’t capital — it’s the human ↔ machine trust loop. and yeah — KYA > KYC. know your agent. in 2024, bots officially passed humans online — 51% of all internet traffic is now automated. bad bots alone make up 37%. GPTBot traffic grew 300%+ YoY. most “users” aren’t users anymore — they’re agents. soon, ai will verify ai. welcome to the post-human web. stablecoins were just the prototype. next up — tokenized compute, identity, contracts, and memory. memory will be the rarest asset of all. industrial age: factories made goods. token age: factories make intelligence. and whoever owns the tokens — owns the future.

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